McDonald's Corp. (MCD: Quote) said its global comparable sales were flat in July. U.S. comparable sales were relatively flat in July as the promotional activity did not offset the effects of the sluggish economy and last year's launch of the Mango Pineapple smoothie.
For July, Europe reported a 0.6% drop in comparable sales for July as strong results in the U.K. and Russia were more than offset by weaker performance in Germany and several Southern European markets amidst an increasingly difficult environment.
Asia/Pacific, Middle East and Africa posted comparable sales decline of 1.5% for July. Positive results in Australia were more than offset by ongoing weakness in Japan and the negative impact from the shift in timing of Ramadan, the company added. Systemwide sales for the month slid 3.2%, or increased 2.3% in constant currencies.
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by RTT Staff Writer
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